Do Kwon was born on September 6th, 1991. He attended Stanford University for his undergraduate education and earned a bachelor’s degree in computer science there in 2015. Kwon began his career as an engineer with Apple and then briefly worked for Microsoft. 2019 is the year when Do Kwon was included in Forbes’ “30 under 30” list. Do Kwon is a martial art from South Korea.
This entrepreneur in the cryptocurrency space from South Korea who is best known for co-founding Terraform Labs in January 2018 and serving as the company’s CEO at that time.
Kwon began his entrepreneurial life by launching his own telecommunications firm, Anyfi, in the year 2016. Anyfi is a peer-to-peer communications solution that makes use of mesh network technologies. Up until 2017, he served as the company’s Chief Executive Officer.
Terraform Labs is a blockchain technology business that was established in 2018 by Do Kwon and Daniel Shin. The company’s primary objective is to develop a decentralized cryptocurrency with stable pricing. Terra Proof-of-Stake (PoS) is a public blockchain that was based on the Cosmos Software Development Kit (SDK) and was developed by Terraform Labs.
Additionally, the corporation mints the noninflationary stable coin known as LUNA. This coin serves as a native asset on the Terra Blockchain and is used by the company.
The e-commerce site CHAI, which was being developed under Terraform’s supervision, was going to make use of the Terra stablecoin. The development of new blockchain technologies, protocols, products, and platforms has continued at TFL under the leadership of Do Kwon. Some of them are Anchor, Prism, Astroport, and Mirror.
Terraform Labs is in charge of operating the Terra blockchain ecosystem, which is driven by the LUNA token that is native to the platform. Kwon is a graduate of Stanford University with a concentration in computer science. He is proficient in a wide variety of programming languages, including C++, Java, and Python, among others.
Kwon is involved with a variety of well-known cryptocurrency projects, including Anchor Protocol and Mirror Protocol, in addition to the blockchain industry as a whole. Kwon was recognized by Forbes as a rising star in the field of finance and venture capital in 2019, earning him a spot on the publication’s “30 Under 30” list. Kwon has also made a number of personal investments totaling many millions of dollars in cryptocurrency-focused companies such as Flint, Iron Fish, pSTAKE, and Ape Board.
Kwon’s life activities in 2021:
An investment round that was co-led by Galaxy Digital, which is owned and operated by Mike Novogratz, resulted in Terraform Labs receiving an injection of $25 million early in the month of January. The following month, the business announced the formation of Terraform Capital, which first received seed capital in the amount of ten million dollars.
The objective of the program is to establish early-stage community initiatives and drive integrations of Terra’s dollar-pegged stablecoin, TerraUSD, and LUNA, the governance token, throughout decentralized financial systems by covering the cost of security audits.
The debut of Terra’s Anchor Protocol in March was one of the company’s most significant accomplishments. This protocol gives users the ability to lend or store their proof-of-stake assets and stablecoins.
By the middle of the year, the firm had already been successful in raising a significant amount of capital through a number of different fundraises, including one for $150 million that was sponsored by major crypto investors such as Pantera Capital and BlockTower Capital.
Kwon’s goal was to break into the Asian market in 2021, and he did so by organizing a competition called “Think with Terra Ideathon.” This was a program that lasted for four months and was geared toward Indian developers. The competition’s focus was on developing blockchain-based payment use cases for a variety of business verticals.
Kwon also took part during the year in a number of fundings for businesses, such as the mobile DeFi software Alice and the new blockchain network Flare Network. In spite of this, Kwon was forced to contend with a number of obstacles imposed by the United States Securities and Exchange Commission (SEC), which asserted that both Kwon and Terraform Labs had violated federal securities laws. This occurred concurrently with the growth trajectory of Kwon’s company.
Kwon’s activities in 2022:
In January, the corporation invested almost $4.1 billion in the establishment of a charitable organization that was given the name Luna Foundation Guard. The charitable organization is dedicated to the Terra ecosystem and works to reduce the price volatility of LUNA by providing backing in the form of TerraUSD.
It is anticipated that Terraform Labs would invest $40 million in 2022 to announce its debut in the professional sports industry. In addition, the company was a participant in a funding round worth $80 million that was held for Qredo.
Qredo is a decentralized layer-2 infrastructure that facilitates the custody and settlement of digital assets. In spite of the ongoing conflict with the federal regulators, it is anticipated that Kwon would continue his winning streak of investments while also continuing to broaden Terra’s product offerings. The business owner is also making his wagers on the potential growth of Anchor Protocol’s ANC coin in the future.
Do Kwon net worth
His net worth is estimated to be around $10 million.